In a report released today, Swayampakula Ramakanth from H.C. Wainwright reiterated a Hold rating on AVEO Pharma (AVEO), with a price target of $1. The company’s shares closed on Friday at $0.59, close to its 52-week low of $0.49.
Ramakanth noted:
“We maintain our Neutral rating on AVEO and our 12-month price target of $1.00 per share. We derive our price target based on a risk-adjusted NPV analysis of projected tivozanib and ficlatuzumab revenues through 2030 assuming a 12.0% discount rate and a 0% terminal growth rate. We derive an rNPV of $231M for the products and add in pro forma net cash and cash equivalents of $12.9M to arrive at a 12-month price target of $1.01 per diluted share, which we round to $1.00. (1) clinical; (2) commercial; (3) financial; (4) partnership; and (5) intellectual property.”
According to TipRanks.com, Ramakanth is a 1-star analyst with an average return of -1.4% and a 36.4% success rate. Ramakanth covers the Healthcare sector, focusing on stocks such as Gritstone Oncology Inc, Trillium Therapeutics, and Leap Therapeutics Inc.
The word on The Street in general, suggests a Moderate Buy analyst consensus rating for AVEO Pharma with a $1.75 average price target.
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The company has a one-year high of $3.59 and a one-year low of $0.49. Currently, AVEO Pharma has an average volume of 3.69M.
Based on the recent corporate insider activity of 126 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of AVEO in relation to earlier this year.
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AVEO Pharmaceuticals, Inc. is a biopharmaceutical company, which engages in the advancement of therapeutics for oncology, and other areas of unmet medical need. Its product candidates include Tivozanib, Ficlatuzmab, AV-203, AV-380 and AV-353.
